Why has the VeChain price increased by 40% this week?

New partnerships and sustainability

Thanks to its diversity and versatility in blockchain technology, VeChain as a Layer-1 smart contract platform has made significant progress in adoption by numerous companies. Partly thanks to this versatility and diversity, VeChain is a forerunner in the fight against climate change.

One of the most recent updates to the VeChain protocol showcased the unique capabilities of VeCarbon, a zero-threshold carbon management software-as-a-service (SaaS) protocol. According to an update shared by Twitter user @eisenreich, hundreds of companies have successfully used the VeCarbon protocol to manage their own carbon emissions.

In addition to the growing adoption by companies, sustainability is thus the second most important driver for VeChain’s rapid price growth.

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